Google has beaten out Facebook to acquire London-based Artificial Intelligence company DeepMind — for an amount alleged to be in excess of $500 million.

DeepMind was founded by neuroscientist and chess prodigy Demis Hassabis, as well as Skype and Kazaa developer Jaan Tallin, and researcher Shane Legg. While it is unknown exactly what the company is working on, it describes itself as a “a cutting edge artificial intelligence company” to build general-purpose learning algorithms for simulations, e-commerce, and games.